Amendment No. 1 to Smart for Life, Inc. 2022 Equity Incentive Plan
This amendment updates the Smart for Life, Inc. 2022 Equity Incentive Plan by increasing the total number of shares of common stock available for grant under the plan to 70,000,000. The company is required to keep enough shares available to meet its obligations under the plan. All other terms of the original plan remain unchanged. The amendment is effective as of March 15, 2023.
Exhibit 10.42
AMENDMENT NO. 1
TO
SMART FOR LIFE, INC.
2022 EQUITY INCENTIVE PLAN
The Smart for Life, Inc. Equity Incentive Plan (the “Plan”) is hereby amended as follows:
Section 4.1 of the Plan is hereby amended in its entirety to read as follows:
“4.1 Subject to adjustment in accordance with Section 11, a total of 70,000,000 shares of Common Stock shall be available for the grant of Awards under the Plan. Shares of Common Stock granted in connection with all Awards under the Plan shall be counted against this limit as one (1) share of Common Stock for every one (1) share of Common Stock granted in connection with such Award. During the terms of the Awards, the Company shall keep available at all times the number of shares of Common Stock required to satisfy such Awards.”
Except as herein amended, the provisions of the Plan shall remain in full force and effect.
Effective as of March 15, 2023
